TMI Blog2021 (10) TMI 902X X X X Extracts X X X X X X X X Extracts X X X X ..... ion on the IDS 2016 vide circular no.25/2016 dated 30th June 2016. Necessary verification should be made at the level of the Ld. AO, before whom assessee shall provide all the details of IDS 2016, certificate of tax deducted in the name of self and children and also provide complete details of TDS - If after the necessary verification it is proved that the alleged IDS was deducted on the income/investment declared under IDS 2016 comprising of the principle amount of the investments and interest earned thereon, then the assessee should be allowed the benefit of tax deducted at source - Needless to mention that proper opportunity of being heard to be provided to the assessee. - Assessee appeal allowed for statistical purposes. - ITA No.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urn of income of such TDS. 3.Your appellant reserves its right to add to amend to alter or to modify any of above grounds and to pursue any other or further grounds as may be required. The Assessee namely Tripti Kharia has raised following grounds of appeal in ITANo. 124/Ind/2017: 1. That on the facts in the circumstances of the case the Learned CIT (Appeal) (I), Indore has erred in not allowing credit of claimed TDS of ₹ 1,79,702/- on bank interest which was already offered during declaration in IDS 2016 but credit of TDS amount was not allowed. Hence claimed in regular return, however credit of TDS was also disallowed after ignoring to the explanation regarding relevant assessee not claimed in their individual return. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Central Government effective from 01.06.2016. Form No.1 filed on 30th September 2016 u/s 183 of the Act declaring an amount of ₹ 76,89,304/- . Thereafter assessee filed the return for A.Y. 2017-18 declaring income of ₹ 55,00,270/- which also included the interest income on investment declared under IDS 2016. Total TDS claimed was ₹ 4,22,140/-, but in the intimation u/s 143(1) of the Act dated 13.06.2018 credit for TDS of only ₹ 1,29,132/- was given. 5. Assessee filed an appeal before Ld. CIT(A) claiming that the TDS of ₹ 2,52,431/- which was deducted on the interest accrued/paid on the investments declared under IDS 2016 has not been given to the assessee, as it was not appearing in Form 26AS availab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvestments offered to tax under the Income Declaration Scheme 2016 . 9. We observe that in pursuance to the Income Declaration Scheme 2016 notified by the Central Government w.e.f. 01.06.2016 assessee filed declaration in form No.1 dated 30.09.2016 and offered income of ₹ 62,41,474/- and ₹ 14,47,830/- for A.Y. 2016-17 2017-18. Total income was declared at ₹ 76,89,304/- and tax and penalty of ₹ 28,82,816/- was payable. Assessee claimed TDS of ₹ 2,93,008/- deducted on such unaccounted investments. The assessee was not allowed the claim of ₹ 2,52,431/- for A.Y. 2017-18. 10. We further observe that as per circular no.25 of 2016 dated 30th June 2016 certain clarification was given regarding the Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re, under the given facts and circumstances of the case are of the considered view that necessary verification should be made at the level of the Ld. AO, before whom assessee shall provide all the details of IDS 2016, certificate of tax deducted in the name of self and children and also provide complete details of TDS ₹ 2,52,431/-. If after the necessary verification it is proved that the alleged IDS of ₹ 2,52,431/- was deducted on the income/investment declared under IDS 2016 comprising of the principle amount of the investments and interest earned thereon, then the assessee should be allowed the benefit of tax deducted at source of ₹ 2,52,431/-. Needless to mention that proper opportunity of being heard to be provided to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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